Bordered by Saudi Arabia to the south, Iraq to the north and the Persian Gulf to the east, Kuwait is driven by its burgeoning oil sector, the exports of which generate more than half of the Middle Eastern country's total export earnings. In 2007, Kuwait supplied more than 2.6 million barrels of oil per day to the world market, making the relatively small country a central player in the petroleum industry. Kuwait contains proven oil reserves of roughly 102 billion barrels and proven natural gas reserves of 63 Tcf. The Supreme Petroleum Council dictates Kuwait's oil policies, while the Kuwait Petroleum Council manages both domestic and foreign investments in the oil sector.